Wedbush Reiterates “Outperform” Rating for Advanced Micro Devices (NASDAQ:AMD)

Advanced Micro Devices (NASDAQ:AMD)‘s stock had its “outperform” rating reiterated by stock analysts at Wedbush in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $200.00 price objective on the semiconductor manufacturer’s stock. Wedbush’s price objective suggests a potential upside of 28.97% from the stock’s current price.

A number of other research analysts have also commented on AMD. HSBC raised Advanced Micro Devices from a “hold” rating to a “buy” rating and raised their price target for the company from $180.00 to $225.00 in a report on Tuesday. Bank of America raised their price target on Advanced Micro Devices from $165.00 to $195.00 and gave the company a “buy” rating in a report on Monday, January 29th. Melius Research raised Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $188.00 price target on the stock in a report on Monday, January 8th. Morgan Stanley raised their target price on Advanced Micro Devices from $128.00 to $193.00 and gave the company an “overweight” rating in a research note on Monday, January 29th. Finally, Susquehanna reaffirmed a “positive” rating and set a $200.00 target price on shares of Advanced Micro Devices in a research note on Thursday, April 4th. Four research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $185.59.

Advanced Micro Devices Stock Performance

Advanced Micro Devices stock opened at $155.08 on Wednesday. The stock has a market cap of $250.63 billion, a P/E ratio of 298.24, a price-to-earnings-growth ratio of 2.49 and a beta of 1.64. The company has a current ratio of 2.51, a quick ratio of 1.86 and a debt-to-equity ratio of 0.03. The stock has a 50 day moving average of $180.16 and a 200-day moving average of $148.28. Advanced Micro Devices has a 52 week low of $81.02 and a 52 week high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, January 30th. The semiconductor manufacturer reported $0.77 earnings per share for the quarter, hitting the consensus estimate of $0.77. Advanced Micro Devices had a return on equity of 5.73% and a net margin of 3.77%. The firm had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.13 billion. During the same period last year, the company earned $0.54 earnings per share. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, analysts expect that Advanced Micro Devices will post 2.63 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Darla M. Smith sold 1,678 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $188.66, for a total transaction of $316,571.48. Following the completion of the sale, the chief accounting officer now directly owns 4,209 shares of the company’s stock, valued at approximately $794,069.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Darla M. Smith sold 1,678 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $188.66, for a total transaction of $316,571.48. Following the completion of the sale, the chief accounting officer now directly owns 4,209 shares of the company’s stock, valued at approximately $794,069.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Victor Peng sold 100,000 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $175.11, for a total value of $17,511,000.00. Following the sale, the insider now directly owns 241,266 shares of the company’s stock, valued at $42,248,089.26. The disclosure for this sale can be found here. In the last ninety days, insiders sold 341,143 shares of company stock valued at $62,580,844. Corporate insiders own 0.73% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AMD. Norges Bank bought a new position in shares of Advanced Micro Devices in the 4th quarter valued at approximately $3,426,529,000. Moneta Group Investment Advisors LLC raised its stake in shares of Advanced Micro Devices by 105,415.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,526,710 shares of the semiconductor manufacturer’s stock valued at $552,275,000 after acquiring an additional 8,518,629 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Advanced Micro Devices in the 1st quarter valued at approximately $777,111,000. Viking Global Investors LP bought a new position in shares of Advanced Micro Devices in the 4th quarter valued at approximately $698,340,000. Finally, Northern Trust Corp raised its stake in shares of Advanced Micro Devices by 35.5% in the 1st quarter. Northern Trust Corp now owns 17,086,683 shares of the semiconductor manufacturer’s stock valued at $1,868,258,000 after acquiring an additional 4,475,368 shares in the last quarter. 71.34% of the stock is owned by institutional investors.

Advanced Micro Devices Company Profile

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates through Data Center, Client, Gaming, and Embedded segments. The company offers x86 microprocessors and graphics processing units (GPUs) as an accelerated processing unit, chipsets, data center, and professional GPUs; and embedded processors, and semi-custom system-on-chip (SoC) products, microprocessor and SoC development services and technology, data processing unites, field programmable gate arrays (FPGA), and adaptive SoC products.